Company Registration No. SC247180 (Scotland)
F4G SOFTWARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
F4G SOFTWARE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
F4G SOFTWARE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Investments
4
130,412
130,412
Current assets
Debtors
5
244
238
Cash at bank and in hand
1,596
33,723
1,840
33,961
Creditors: amounts falling due within one year
6
(4,947)
(34,352)
Net current liabilities
(3,107)
(391)
Total assets less current liabilities
127,305
130,021
Capital and reserves
Called up share capital
7
2,209
2,209
Profit and loss reserves
125,096
127,812
Total equity
127,305
130,021
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 15 August 2020 and are signed on its behalf by:
Mr T Gatland
Director
Company Registration No. SC247180
F4G SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 2 -
1
Accounting policies
Company information
F4G Software Limited is a private company limited by shares incorporated in Scotland. The registered office is Whinnyhall, Kinglassie, Lochgelly, KY5 0UB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the cost or value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Trademarks
50% Straight line
As at 31 March 2011, all intangible assets have been fully amortised.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Transaction costs are expensed to profit or loss as incurred. Changes in fair value are recognised in other comprehensive income except to the extent that a gain reverses a loss previously recognised in profit or loss, or a loss exceeds the accumulated gains recognised in equity; such gains and loss are recognised in profit or loss.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. Any impairment loss is recognised immediately in profit or loss.
F4G SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
1
Accounting policies
(Continued)
- 3 -
1.5
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Cash held at the year end is inflated by money owed to past shareholders that have sold their shares in the year. These cheques have been sent by the company but not cashed by the individuals at the year end.
1.6
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans, hire purchase and directors' loans.
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.
Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2019 - 3).
F4G SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 4 -
3
Intangible fixed assets
Trademarks
£
Cost
At 1 April 2019 and 31 March 2020
172,826
Amortisation and impairment
At 1 April 2019 and 31 March 2020
172,826
Carrying amount
At 31 March 2020
-
At 31 March 2019
-
4
Fixed asset investments
2020
2019
£
£
Investments
130,412
130,412
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 April 2019 & 31 March 2020
130,412
Carrying amount
At 31 March 2020
130,412
At 31 March 2019
130,412
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
244
238
F4G SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 5 -
6
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
-
32,506
Other creditors
4,947
1,846
4,947
34,352
7
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
2,208,708 Ordinary shares of 0.1p each
2,209
2,209
2020-03-312019-04-01false17 August 2020CCH SoftwareCCH Accounts Production 2020.200No description of principal activityMr T GatlandMr N J DonaldsonMr C N McMickingMr T GatlandSC2471802019-04-012020-03-31SC2471802020-03-31SC2471802019-03-31SC247180core:CurrentFinancialInstruments2020-03-31SC247180core:CurrentFinancialInstruments2019-03-31SC247180core:ShareCapital2020-03-31SC247180core:ShareCapital2019-03-31SC247180core:RetainedEarningsAccumulatedLosses2020-03-31SC247180core:RetainedEarningsAccumulatedLosses2019-03-31SC247180bus:Director12019-04-012020-03-31SC247180core:IntangibleAssetsOtherThanGoodwill2019-04-012020-03-31SC247180core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2019-04-012020-03-31SC247180core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2019-03-31SC247180core:WithinOneYear2020-03-31SC247180core:WithinOneYear2019-03-31SC247180bus:PrivateLimitedCompanyLtd2019-04-012020-03-31SC247180bus:SmallCompaniesRegimeForAccounts2019-04-012020-03-31SC247180bus:FRS1022019-04-012020-03-31SC247180bus:AuditExemptWithAccountantsReport2019-04-012020-03-31SC247180bus:Director22019-04-012020-03-31SC247180bus:Director32019-04-012020-03-31SC247180bus:CompanySecretary12019-04-012020-03-31SC247180bus:FullAccounts2019-04-012020-03-31xbrli:purexbrli:sharesiso4217:GBP